Netflix Pays More than $500m for ‘Seinfeld’ Rights

THR has confirmed that Seinfeld will begin streaming on Netflix 2021.

Per the outlet, Netflix landed worldwide rights to the iconic sitcom in a five-year deal with distributor Sony. The report continued:

“The show will move from current rightsholder Hulu when its deal is up in 2021. Sources tell The Hollywood Reporter that the new Seinfeld streaming pact is worth more than $500 million and covers global rights. By comparison, The Office and Friends moved to NBC’s streaming platform and HBO Max, respectively, for similar valuations that only covered domestic. The deal, sources stress, was competitive, with Netflix beating out rich offers from the likes of Amazon, NBC’s streamer, HBO Max, Hulu and CBS All Access.”

And this shocking deal comes right after Netflix lost rights to two other classic NBC comedies: Friends and The Office.

Reacting to this new deal, Netflix chief content officer Ted Sarandos said Monday in a statement: “Seinfeld is the television comedy that all television comedy is measured against. It is as fresh and funny as ever, and will be available to the world in 4K for the first time. We can’t wait to welcome Jerry, Elaine, George and Kramer to their new global home on Netflix.”

While Sony Pictures Television chairman Mike Hopkins added: “Seinfeld is a one-of-a-kind, iconic, culture-defining show. Now, 30 years after its premiere, Seinfeld remains center stage. We’re thrilled to be partnering with Netflix to bring this beloved series to current fans and new audiences around the globe.”

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